City Office Correlations

CIO Stock

USD 5.06 0.04 0.78%

The current 90-days correlation between City Office and Hudson Pacific Properties is 0.62 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as City Office moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if City Office moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

City Office Correlation With Market

Weak diversification

The correlation between City Office and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding City Office and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in City Office. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

To learn how to invest in City Stock, please use our How to Invest in City Office guide.

Moving together with City Stock

0.73	PK	Park Hotels Resorts	Pair Corr
0.78	UE	Urban Edge Properties	Pair Corr
0.68	EQIX	Equinix	Pair Corr
0.72	ESBA	Empire State Realty	Pair Corr
0.84	ESRT	Empire State Realty	Pair Corr
0.79	WHLR	Wheeler Real Estate	Pair Corr
0.75	FISK	Empire State Realty Potential Growth	Pair Corr
0.83	AAT	American Assets Trust	Pair Corr
0.72	AHH	Armada Hflr Pr	Pair Corr
0.72	AKR	Acadia Realty Trust	Pair Corr
0.67	AMH	American Homes 4	Pair Corr
0.74	BDN	Brandywine Realty Trust	Pair Corr
0.85	BFS	Saul Centers	Pair Corr
0.62	BRX	Brixmor Property Sell-off Trend	Pair Corr
0.82	BXP	Boston Properties	Pair Corr
0.78	CDP	COPT Defense Properties	Pair Corr

Moving against City Stock

0.55	WELL	Welltower	Pair Corr
0.52	AIV	Apartment Investment and	Pair Corr
0.47	FR	First Industrial Realty Sell-off Trend	Pair Corr
0.39	LB	LandBridge Company Buyout Trend	Pair Corr
0.34	O	Realty Income	Pair Corr
0.45	EGP	EastGroup Properties	Pair Corr

Related Correlations Analysis

	HPP	PDM	OPI	KRC	DEI	BDN	CUZ	HIW	OFC	HPP-PC
HPP		0.18	0.36	0.25	0.37	0.31	0.61	0.41	0.0	0.44	HPP
PDM	0.18		0.66	0.95	0.85	0.92	0.46	0.62	0.0	0.18	PDM
OPI	0.36	0.66		0.65	0.83	0.63	0.27	0.64	0.0	0.26	OPI
KRC	0.25	0.95	0.65		0.89	0.94	0.53	0.71	0.0	0.29	KRC
DEI	0.37	0.85	0.83	0.89		0.88	0.49	0.79	0.0	0.39	DEI
BDN	0.31	0.92	0.63	0.94	0.88		0.6	0.7	0.0	0.31	BDN
CUZ	0.61	0.46	0.27	0.53	0.49	0.6		0.47	0.0	0.32	CUZ
HIW	0.41	0.62	0.64	0.71	0.79	0.7	0.47		0.0	0.32	HIW
OFC	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	OFC
HPP-PC	0.44	0.18	0.26	0.29	0.39	0.31	0.32	0.32	0.0		HPP-PC
	HPP	PDM	OPI	KRC	DEI	BDN	CUZ	HIW	OFC	HPP-PC

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

KRC	+ 0.95	PDM
BDN	+ 0.94	KRC
BDN	+ 0.92	PDM
DEI	+ 0.89	KRC
BDN	+ 0.88	DEI
DEI	+ 0.85	PDM

High negative correlations

HPP-PC	- 0.0	OFC
OFC	- 0.0	HIW
OFC	- 0.0	CUZ
OFC	- 0.0	BDN
OFC	- 0.0	DEI
OFC	- 0.0	KRC

Risk-Adjusted Indicators

There is a big difference between City Stock performing well and City Office Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze City Office's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HPP	3.70	0.13	0.00	(0.04)	0.00	0.00	8.01	(7.42)	21.69
PDM	1.68	(0.20)	0.00	(0.31)	0.00	0.00	2.91	(3.74)	12.31
OPI	3.14	(0.83)	0.00	(1.59)	0.00	0.00	7.06	(10.71)	21.36
KRC	1.91	(0.12)	0.00	(0.21)	0.00	0.00	3.44	(3.90)	9.74
DEI	1.88	(0.16)	0.00	(0.24)	0.00	0.00	3.28	(4.39)	10.12
BDN	1.67	(0.14)	0.00	(0.25)	0.00	0.00	2.64	(4.27)	10.62
CUZ	1.35	0.07	0.04	(0.01)	2.08	(1.24)	2.21	(3.17)	7.26
HIW	1.32	0.01	0.00	(0.09)	0.00	0.00	2.75	(2.84)	7.07
OFC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HPP-PC	1.11	0.03	0.00	(0.03)	0.00	0.00	2.30	(2.21)	9.51

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